
With a $30 Billion HIT-30 Program, Turkiye Aims to Become a Global Investment Center in Electric Vehicles, Battery Technologies, Chips, Green Energy, and More
Turkiye is making a significant move in the high-tech sector with its ambitious HIT-30 High-Tech Incentive Program. This $30 billion initiative aims to position Turkiye as a central hub for global technology investments by focusing on cutting-edge areas such as next-generation energy vehicles, battery technologies, chip production, solar cells, and wind turbines.
Turkiye Set to Become a High-Tech Investment Hub
Under the HIT-30 Program, Turkiye will allocate $30 billion in tax incentives and grants to high-tech sectors by 2030. The program aims to attract over $20 billion in private sector investments and will provide substantial support to the world’s top 1,000 R&D companies establishing their centers in Turkiye.
Major Support for Green Energy and Chip Technologies
In a key move towards green transformation, the program will offer $2.5 billion in support for solar energy investments, and an additional $1.7 billion for wind energy projects. Moreover, a $5 billion incentive package will be introduced to boost chip production capacity, enhancing Turkiye’s role in this strategically important area.
Turkiye’s Rising Role in Electric Vehicle Production
The program includes a $5 billion incentive package to support electric vehicle investments, aiming to produce one million electric vehicles annually in Turkiye. These investments will drive local production and establish R&D centers in the country.
Targeting 80 Gigawatt-Hours of Battery Production
Turkiye plans to build a battery production capacity of 80 gigawatt-hours with up to $4.5 billion in support. This initiative will strengthen Turkiye’s position in the electric vehicle and energy storage sectors.
Attractive Support for R&D Centers
The program will also offer $1 billion in support to attract the world’s largest technology firms to establish R&D centers in Turkiye. The program includes covering half of the personnel costs for these centers and providing various other incentives, making Turkiye a highly attractive location for R&D activities.
Source: AA / Prepared by Irem Yildiz